Commentary

Deutsche Bank has raised its target price for Hungarian fuels group MOL to HUF 20,000 from HUF 17,500 and maintained its ‘Buy' recommendation on the stock. DB has also left is ‘Buy' tag on... 

Hungary's budget deficit widened to HUF 1,059 billion in September from HUF 914 bn in August, reaching 4.1% of GDP. The government's full-year target is 3.8% for 2009. 2009.10.05 17:13Hungary posts EUR... 

Crédit Agricole Cheuvreux has upgraded Hungary's OTP Bank and Raiffeisen International to ‘Outperform', raising its respective target prices to HUF 6,500 (+23.8%) and EUR 52 (+16.7%). “As... 

Goldman Sachs and Commezbank both expect Hungary's central bank (NBH) to cut its key policy rate by 50 basis points to 7.50% today. The outcome of today's rate meeting will be announced at 14:00 CET... 

(Adds details) Erste has on Monday raised its target price for Hungarian fuels group MOL to HUF 18,200 from HUF 13,000 previously and kept its ‘Accumulate' rating on the stock, saying the paper... 

Goldman Sachs has on Friday raised its target price markedly for Hungarian fuels group MOL. Morgan Stanley has upped its TP and rating on MOL earlier this week. Goldman Sachs has knocked its target... 

HSBC has on Wednesday raised its target price for Hungary's leading telecoms group Magyar Telekom substantially. HSBC has on Wednesday upped its target price for Magyar Telekom to HUF 825 from HUF... 

Hungarian adjusted retail sales shrunk by 6.6% year on year in July from -2.2% in June, vs the market call for -5.0% yr/yr . Swda m/m the print was -2.3% (vs +0.5% last month). Food sales down by 4.7%... 

Morgan Stanley has raised its rating on Hungary's MOL to ‘Overweight' from ‘Equal weight' on Monday, and also upped its target price to HUF 18,000 from HUF 14,000. Morgan Stanley is less... 

Merrill Lynch-Bank of America project Hungary's economic output to fall by 6.6% yr/yr in 2009, less drastically than the government's own forecast, but it already expects a moderate pickup in 2010. ... 

The improving trend in global data releases evident over the last month or so continues to provide support for Emerging Market assets and currencies, HSBC said in its latest FX, debt and equity research.... 

Wood & Co. has dropped Hungarian fuels group MOL from its Top10 Portfolio, swapping it for its Polish sector peer PKN, saying MOL has outperformed its CEE peers and it already trades at a premium. Wood's... 

The IMF mission in Budapest is most likely to use the usual formulas at today's press conference, talking about a “rigorous and disciplined fiscal policy" and an “ambitious 2010 budget deficit... 

This week the focus in Hungary will turn to details on second-quarter GDP data and the inflation print in August. Nordea does not expect the final Q2 growth figures to be markedly revised from the prelim... 

Credit Suisse expects further monetary policy divergence between Hungary and Poland to push PLN/HUF gradually toward its three-month target of 68.00 from around 66.50 currently. CS initially recommended... 

Hungarian oil and gas group MOL is in talks with banks to obtain financing for the company's future investments and may sell new shares as part of the funding programme, CEO György Mosonyi told Bloomberg.... 

Natixis has on Monday raised its target price for Hungary's MOL, following a similar move by UBS. A research analyst for the French corporate and investment bank Natixis has upped the target price... 

Tamás Bánfi, member of Hungary's Monetary Council, said in an interview that the base rate could decrease to 5-6% by the end of 2009 in an ideal scenario. Bánfi added that he was sceptical that the necessary... 

Erste Bank has upgraded Hungary's Land Credit and Mortgage Bank (FHB) to ‘Hold' from ‘Sell' on Friday. Erste's research analyst has not altered his recommendation for FHB for a long time.... 

Goldman Sachs has on Wednesday downgraded Hungary's leading drugs maker Richter Gedeon and also removed the stock from its European ‘Buy' list, Reuters reported. GS has cut its recommendation...